Many car owners are faced with the conflict of when the best time is to sell their car. There are a number of situations that will prompt you to sell your car. However, you also need to ensure that you get value for your money. Selling your car relies on timing more than anything. If you wait too long, you might get shorthanded. On the other hand, if you sell your car without considering important factors that affect its resale value, you might not get what you expected. Here are some tips to help you find the perfect time to sell.
Newer model cars have better safety features than older models. Therefore, this is something to motivate you to sell your car. If you have a family, it’s important to consider a car with higher safety ratings to ensure that they are safe whenever you’re traveling. Additionally, some older models don’t come with basic safety technology such as a reverse camera. These features are essential in driving comfortability.
Some cars come with unknown defects and high maintenance costs that will make it spend more time are the repair shop than being driven. Such a car becomes a liability than an asset and it’s enough reason to sell it. Make sure it’s reasonably priced before selling putting into account its defects.
Car buyers are seasonal. If you ask around, many car dealerships will tell you that there are certain periods when people don’t buy cars. Some of the worst times to sell your car are towards the end of the year when people are budgeting for the festivities. Avoid selling your car when the market is low as this will affect the resale value negatively.
Many times, people buy cars without knowing its fuel consumption. It’s hard to keep up with a fuel guzzler especially if you weren’t financially and mentally prepared for it. therefore, it’s more economical to sell your car if it has a higher fuel consumption than expected. Unfortunately, most of these high consumption cars have a low resale value.
Over the years, families grow, businesses grow bigger and even your taste changes. This is a good reason to sell your car since a car is meant to serve your purpose. It’s better to do a trade-in if you’re selling a car for this reason. Not only do you avoid the hassle of finding a buyer but also you’ll spend less when getting a new car. Many car dealerships in the Kenyan market accept trade-ins.
- Wear & Tear
If you drive a car on Kenyan roads, the wear and tear is higher than on European roads. Therefore, it will be a smart idea to replace your car after a couple of years to avoid mechanical problems. Luckily, depreciation is constant which means, if your car is in good condition, you’ll most likely get its highest market value. The more problems it has, the less you’ll get once you sell it.
- Political Events
Major political events such as elections and budget affect the economy of a country making most markets experience a drop in sales including the car market. People hold off on making purchases during such periods due to the uncertainty of the future. Therefore, car prices drop and it won’t be advisable to sell your car during such times.Categories: News and Tips, Tips & Car Advice